KeyCorp Lowers NerdWallet (NASDAQ:NRDS) Price Target to $14.00

NerdWallet (NASDAQ:NRDS - Get Free Report) had its price objective cut by equities research analysts at KeyCorp from $18.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price would suggest a potential upside of 62.04% from the company's current price.

Several other research analysts also recently issued reports on NRDS. Barclays lifted their price objective on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Citigroup decreased their price objective on NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley cut their target price on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.00.

NerdWallet Price Performance

NRDS traded down $0.44 during trading on Monday, reaching $8.64. 128,806 shares of the stock were exchanged, compared to its average volume of 529,526. NerdWallet has a 1 year low of $7.55 and a 1 year high of $16.45. The company has a market capitalization of $640.29 million, a price-to-earnings ratio of 21.55 and a beta of 1.41. The business's 50 day moving average price is $8.98 and its two-hundred day moving average price is $12.03.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The business had revenue of $183.80 million for the quarter, compared to analyst estimates of $168.33 million. On average, analysts anticipate that NerdWallet will post 0.36 EPS for the current year.

Hedge Funds Weigh In On NerdWallet

Several large investors have recently added to or reduced their stakes in the business. Topline Capital Management LLC acquired a new position in shares of NerdWallet during the 4th quarter valued at about $69,840,000. Quinn Opportunity Partners LLC increased its position in NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after purchasing an additional 867,681 shares during the last quarter. Alta Fox Capital Management LLC purchased a new position in NerdWallet during the fourth quarter worth approximately $10,761,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of NerdWallet by 157.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of NerdWallet by 325.8% during the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company's stock valued at $9,312,000 after buying an additional 535,701 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.

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